Dodd authors the Credit Card Accountability, Responsibility and Disclosure Act, which is signed into law on May 22. The bill takes on the unfair, deceptive, and abusive practices of credit card companies by preventing increases in interest rates and changes in terms; prohibiting exorbitant and unnecessary fees; requiring fairness in application and timing of card payments; protecting the rights of financially responsible credit card users; strengthening oversight of credit card industry practices; and ensuring adequate safeguards for young people.